The bank will integrate BTC custody into its existing infrastructure for pensions, hedge funds, and other institutional clients.
Citigroup will launch Bitcoin custody services for institutional clients by the end of 2024, allowing them to store BTC alongside traditional assets like stocks and bonds. The move leverages the bank’s existing custody network, which serves clients in over 100 markets, including 62 where it operates its own infrastructure.
The service, part of Citigroup’s “Custody+” suite, aims to streamline settlement, foreign exchange, and cash management. Bitcoin will be the first digital asset offered, with plans to expand the framework for other cryptocurrencies. The bank has already reduced transaction processing times by up to 92% as part of broader efficiency upgrades.
Citigroup’s custody operation currently supports a wide range of institutional investors, including pensions and hedge funds. The integration of Bitcoin custody is expected to simplify asset management for clients already using the bank’s traditional custody services.